A new initiative has been launched to try and come up with ways of protecting mobile phones when they are used as "mobile wallets" as and when the technology to do so is available.

The "Mobile Phone Security Challenge" is part of Design out Crime, an initiative from the UK Home Office Design & Technology Alliance Against Crime and the Design Council.

The challenge is offering a total of £400,000 to designers and technology experts to come up with new ways of securing handsets, the data they contain, and their future use as electronic wallets.

Anyone interested in finding out more can visit ww.designcouncil.org.uk/crime, where there's more info to be had.